Financing
Four honest ways to pay for a renovation
We do not lend money, we take no commission and we have no preferred lender who pays us. What we can tell you is which option suits the size and the timing of your project.
- Options
- 4
- Our commission
- $0
- Sample payment
- $600 / mo on $50k
Compare before you apply
Your four realistic routes
Most of our clients use one of the first two. The third makes sense less often than people expect, and the fourth is genuinely underrated.
Home equity line of credit
A revolving line secured against your home, drawn as the project progresses. Usually the lowest rate available for a renovation, and interest is only charged on what you draw.
Secured against your home. Talk to your bank or credit union.
Home improvement loan
An unsecured fixed-rate instalment loan through one of the two lenders we work with. Faster to close than a HELOC and no appraisal, at a higher rate.
We receive no commission and do not lend money ourselves.
Cash-out refinance
Replacing your existing mortgage with a larger one and taking the difference in cash. Makes sense when current rates are at or below your existing rate.
Resets your mortgage. Run the numbers with a lender first.
Cash and phasing
Paying as you go and splitting the project into phases across two or three years. Costs a little more in total because of mobilisation, and avoids all interest.
We will help you sequence phases so nothing gets built twice.
Sample figures only
What a renovation loan looks like monthly
Illustrative ranges for an unsecured fixed-rate home improvement loan. Your actual payment depends on the lender, your credit and the rate available when you apply.
| Amount financed | 7 year term | 10 year term | 15 year term |
|---|---|---|---|
| $25,000 | $395 to $445 | $300 to $345 | $225 to $270 |
| $50,000 | $790 to $890 | $600 to $690 | $450 to $540 |
| $75,000 | $1,185 to $1,335 | $900 to $1,035 | $675 to $810 |
| $100,000 | $1,580 to $1,780 | $1,200 to $1,380 | $900 to $1,080 |
| $150,000 | $2,370 to $2,670 | $1,800 to $2,070 | $1,350 to $1,620 |
Sample data for illustration only. This is not an offer of credit, a quote or financial advice. Speak to a lender or your credit union before committing to a renovation budget.
Before you talk to anyone
Find your budget band in four clicks
These are the bands we actually see in St. Louis, drawn from our own completed projects. It is a planning tool, not a quote. Your real number comes from a site visit and a line-item scope.
Sample budget band
$26,500 to $89,700
Sample figures for planning only, not an offer of credit or a quote. Payment figures assume an unsecured home improvement loan and vary with rate and credit.
Prefer to talk it through? Call (314) 555-0159.
The option nobody sells you
Phasing a project across two or three years
Splitting a whole-home renovation into phases costs a little more in total, because each phase carries its own setup and containment. What it buys you is no interest, no lender and no pressure.
- Do the systems first. Electrical, plumbing and HVAC, while the walls are open anyway.
- Then the rooms you use most. Kitchen, primary bath, main living space.
- Finishes last. Flooring and paint run best across a whole floor at once, so they are the natural final phase.
- Nothing gets built twice. We sequence the phases so no phase demolishes work from an earlier one.
Fixed price against a defined scope. You get a line-item scope document and an allowance sheet before demolition. The number you sign is the number you pay unless you change the scope or we find a genuine hidden condition, both of which get a written change order first.
An allowance is a budgeted amount for a selection you have not made yet, such as tile or plumbing fixtures. Ours name a real product at a real price so the number is achievable. A low allowance is the most common way a contract price turns into a surprise, and it is the first thing you should compare between bids.
For a home built before 1960 we recommend an owner contingency of 10 to 15 percent of the contract value. For newer construction, 5 to 10 percent. Most clients never spend all of it, but the ones who need it are glad it exists.
We work with two third-party lenders who handle home improvement loans, and many clients use a HELOC or a cash-out refinance instead. We do not lend money ourselves and we do not receive a commission. The financing page shows sample monthly payment ranges so you can sanity-check a budget before you apply.
A deposit at signing, then progress payments tied to completed milestones such as rough-in inspection, drywall and cabinet installation. The final payment is due after the punch list walk, not before it. Nothing is ever due for work that has not happened.
Free estimate
Get a real number to take to a lender
A ballpark range is enough to start a conversation with your bank. A signed fixed-price scope is what they will actually want to see.
742 projects since 2009 · 3 year workmanship warranty · Licensed, bonded and lead-safe certified (sample figures)